Excerpted from The Daily Caller: Kentucky Sen. Rand Paul plans to introduce legislation in Congress soon nullifying the executive orders on guns announced by President Barack Obama on Wednesday, a source familiar with the plans confirmed to The Daily Caller.

The news was first reported during the Fox News show “The Five” on Wednesday by anchor Eric Bolling.

“I’m told Sen. Rand Paul will introduce language within hours, within hours, to call for the nullification and prohibition of funding for the president’s executive actions announced today and possibly even using the federal courts to nullify and defund some of the things that he plans on doing,” Bolling said.

The Capitol Hill source told TheDC that Paul’s legislation is expected to do three things: nullify Obama’s executive orders, defund them and ask the Senate to file a court challenge to them.

UPDATE: Appearing on Hannity, Paul said he’ll introduce the bill early next week.

“In this bill, we will nullify anything the president does that smacks of legislation. And there are several of the executive orders that appear as if he’s writing new law. That cannot happen.”

“I’m afraid that President Obama may have this king complex sort of developing, and we’re going to make sure that doesn’t happen,” Paul said.